Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Bit extreme there talking about 1500's would have thought they'd be lots of buying b4 those levels are reached? US jobless figures out today might be a tailwind hopefully.
As sotolo highlighted his big worry is the AISC and I think that's the biggest drag on the SP apart from the GP.
If Horgan delivers mid-range on his guidance for 22 it implies AISC in Q3 and Q4 will be around US$160m with the total spend for the year around $620m.
In Feb this year they were guiding FY23 AISC at 975-1200 but wrapping a world class mine around this world class ore body is proving to be an expensive mission and they haven't mentioned 2023 AISC since.
Having said that I believe we are starting to see the benefit of all the investment piling into Sukari and hope we'll see steady improvement in production and AISC as time moves on.
All of yesterday's gain now gone no big shake's as it wasn't much anyway but I stupidly thought we'd be going up from hereon lol
Looks like gold wants to go to 1500-1600. Not good for CEY. Patience is the key here, wait for the gold to touch the 1500 range
Hi Halfpenny , Mr Bond & Steve, Elon is a narcissist who also behave like an extreme leader of some evangelical sect, he cant stand criticism or even questioning of his theories or beliefs.
Sadly there are those who will follow him blindly and no doubt lose an awful lot when Elon drops a fad to move onto something else!
This video is exposing the Cult of Elon Musk and a critique of the Tesla mafia, Starship and Elon Musk's dirty works with the stock market and cryptocurrencies.
We don't know Elon Musk personally but millions of people know how he markets himself in public as a kind-hearted, innocent multi-billionaire and a man who is in his 50s reacting to memes like a teenager. But behind the scenes, he is not that cool person who will save humanity.
Tesla share price has been manipulated!
Illegal artisanal mining for lithium batteries !
https://www.youtube.com/watch?v=8yGRdZaPsV0
https://www.imd.org/research-knowledge/articles/Will-Elon-Musks-narcissism-be-his-downfall/
A had a look at a Tesla recently , the interior reminded me of a council self cleaning public toilet with a computor monitor stuck the shelf under the windscreen!
I hope you are right gnome. It has been really painful here the last few years. Actually it has been pretty painful here most of the time apart from brief spell when we seem to take off and start dreaming of the golden flip flops. I notice a few of the traders who always seem to call it right have been quiet after buying in in the 90's and predicting short term rises to 1.15 -1.30. Not too many of the "I sold off my holding at 80 something and have bought back in" lot either.
A few of the jockeys who switch between here, Hoc and Ths have been quite as well as they have been falling too.
Im hoping that in the not too distant future, gold and Cey will start to fly and we finally get to see Sotolos £3 a share.
It would be nice if some of the regulars on here, yourself, Mr T , Rebess, Cowichan etc finally get the golden flip flops.
Good morning gnome.
Am I seeing change for the good? - Not sure. - Since, rightly or wrongly, I have concluded that past/historic Centamin has been run by the 'Mob' and as yet, have not made my mind-up about Horgan, it's too early for me to say. - I'm flattered that you've asked my opinion though as I regard you as one of the most prolific and informative posters we have. - I thought the reference to Cd'I represented the full-Ruby-red-lipstick-job. - Seemingly, clouded in secrecy, we've not heard much about West-African assets and it's only thanks to Cowichan that they have been kept in focus. - So, what a pleasant surprise to find their existence is an important part of plans going forward. Moreover, with a bit of luck, more definitive news planned for this year. - As always, Q3 will be the 'truth-quarter' - It will more or less confirm that guidance will be met, or not as it may be. So, fingers crossed that fortunes may be changing, let's hope so for everyone's sake, especially the 'Old guard'.
Good luck
Rebess.
Torn... gold and silver did the same in the 70's inflation scenario...its a long game and Pm's lag a lot before they really motor. patience ..
So as interest rates go up so does the debt interest payments. You have to ask yourself how many interest rate rises they can pile on. UK industry, especially smaller companies are on their knees along with the public state services. Incredibly gold and silver are still reducing in value.
Rebess
Are you perceiving a change in the company, and implying a change in the fortunes of the company, and furthermore a change in fortunes of investors?
If the Gold price goes north and it will, it might be "velly interesting times" for investors?
best
the gnome
Most upbeat qtr. for a long time. - Of course if your intention is to raise funds in the coming months then it needed to be. Remember the days when you went to see your bank-manager for a loan. Usually, being smart and presentable was a prerequisite. - So it was nice to see Centamin turn-up yesterday dressed to the nines, lipstick, the lot. - It's made me wonder. - In any event, it was better than the now customary good-hiding. :)
Yeah what a plonker- good to see the market no longer reacts - wish cey would perform like crypto- golds a flipping nightmare
I’m guessing based on the fall of the spot gold price again this morning?
But yes, bad results and a falling gold price would have been painful.
Normal service resumes for cey looking like it's going back to the usual lows just imagine where we'd be if the results had been below par.
Its the" American Way.
If you have the power use it,while you can.
Says it all really lol
Wise words Steve… or stay the same, and of course you are right who has a clue….
Equities in Europe traded mostly lower in the premarket on Thursday ahead of the latest interest rate decision that will be announced by the European Central Bank (ECB) during the day.
The DAX went down by 0.16% at 7:19 am CET. At the same time, the FTSE 100 stood flat, while the CAC 40 decreased by 0.30%.
The euro gained 0.39% to the dollar at 7:31 am CET to sell for $1.02172. At that moment, the pound sterling increased by 0.14% against the greenback to go for $1.19925.
Baha Breaking News (BBN) / MM
A good thing about yesterday is at least we know Centamin are sound.
And a good thing about that is, so does everyone else.
Clarity prompting investment.
Hey Sotolo, my statement was tongue in cheek- when gold can only go up or down, 50% chance of being right...
As inflation grows around the world the US dollar enjoying multi-decade highs. To an extent, that’s helping mitigate the impact of inflation in the US by dampening the rising cost of imports. Most other places, though, are seeing the opposite happen. The rising dollar devalues local currencies making imports, including energy, more expensive, adding to inflation. This week Phil Dobbie talks to Prof Steve Keen about the impacts of exchange rates on international trade and how nations could be starting to challenge the US dominance in currency markets. As Pola, a Debunking Economics Podcast listener asks, what happens as BRICs nations (Brazil, Russia, India, China) move to payments in their own currencies instead of using the US dollar? Beyond that, what if they develop their own trading currency, similar to the Bancor proposed by Keynes back in the 1940s.
https://www.podbean.com/site/EpisodeDownload/PB127B52AM4AGN
Thanks Tornadotony,
I think the thing that is overvalued now is the USD, and history says you can bank on this devaluing over the coming years. For start it is not in the US interest for this to happen/stay this way. Another fall out of the irrational behaviour of its Reserve Bank (and of course the other reserve banks mostly just follow). The performance of Australias Reserve Bank has been so bad it is now under Independent review, which should have happened a decad e or 2 again. https://www.afr.com/policy/economy/independent-review-for-rba-as-chalmers-overrules-lowe-20220617-p5aum1
Full of political appointees, economists etc...
Goldman Sachs has now hired our ex Financie Minister, who has just retired on full parliamentary pension? Snouts in the trough, conflict of interest etc etc.
amazing goings on, and its all above board, LOL
the gnome
NOmad
If you think drilling 100,000 meters, getting assays back after qa/qc (think 3-4 months), compiling, intergarting with geology, converting to a indicated resource and THEN feeding this forward into a FS is over quickly, think again.
Regardess, the timelines communicated are very clear, and reasonable cosnidering the variables in play.
•"West Africa. Work is continuing towards the delivery of the Doropo pre-feasibility study ("PFS") by the end of the
year. The field programme has seen the completion of more than 100,000 metres of drilling which is expected to
convert the majority of the Inferred Resource to the Indicated Resource category and support the completion of
the PFS by the end of Q4 2022."
the gnome
The Doropo PFS was due in mid 2022, now there is talk of it coming out by the end of the year. Why the delay? No reasons given, Martin just glosses over it like there is no change there!!
Another method is to look at USA money supply at M1 and M3. A further method is the ratio of USA 30 year treasuries over 10 year levels. The treasury rates ratio suggests gold is approaching a bottom like in 2018. The USA money supply data is two months old. It was suggesting gold at $2020 per ounce was fair value,but we do not know how fast the FED is moving money out of economy through the higher interest rates which encourage debt getting paid off and what is being done on QT. Perhaps we need to use all these kind of methods to get an understanding where gold real value should be.
If you convert major assets into gold ounces such as property. Gold is certainly not expensive. If we take past peaks in gold like 2011 a similar valued property at that time would cost say 340-380 ounces of gold. Today its 570-580 ounces by my estimates and when gold was really cheap like December 2015 that asset would be 720 ounces or nearly double at the peak of being over valued. At $ 1820-1840 gold prices were on the median. They are now 7% below that mean which gives a $1694 gold price or 580 ounces for say a nice property asset. Gold can go lower in value, but then everything else is more over priced. Gold has to correct at some point back to its mean. So either everything else collapses in price to where gold is now or it retains its value and gold has to go back up. In the 1970's gold became hugely over valued and it took two decades to get to the metrics I have described. The time to be buying gold is when its valuation falls below the mean of major assets that are around you. In my opinion we are now 7% below the mean and the question is how far does the market take it. $1380 gold per ounce is the nadir price of December 2015, however an elevated USD currency over today, raises that price higher so any asset that you measure has to be converted into USD.